Oregon tax payers will receive 17.341% tax refund

(OCTOBER 15, 2021) Oregon has a budget. A budget is a plan for spending. It is also a plan for taxes. The state makes a new budget every two years. That means it must guess future income and expenses.

Oregon also has a special law about its budget. People get a tax refund if the state receives more money than it planned. The refund is called a "kicker." Oregon is unique because no other state has a "kicker."

In the last budget, Oregon received $1.9 billion more than expected. That means the refund this year is 17.341% of 2020 state income taxes. For example, if a person paid $1,000 in state income taxes, then they will receive a refund of $173.41.

The refund will be a credit on 2021 taxes.